Cinema chain Everyman reported a return to profitability in the six months ending July 2, boosted by strong box office performances and higher ticket prices. The London-listed company, which operates 49 cinemas across the UK, announced admissions of 2.6 million during the period, a 20.5% increase compared to the same timeframe last year.
The average ticket price rose to £12.97, a 4.1% increase from £12.46 in the prior year. Additionally, patrons increased their spending on food and beverages, with an average of £11.41 spent per customer, up 3%.
These factors contributed to a 23.5% year-on-year revenue increase, reaching nearly £70 million. The company posted profits of £1.9 million, a significant turnaround from the £3.4 million loss recorded in the corresponding period of the previous year. Notable films contributing to the success included "The Devil Wears Prada 2," "Project Hail Mary," "Wuthering Heights," and "Michael." Box office successes such as "The Odyssey" and "Spider-Man: Brand New Day" are also credited with bolstering performance.
Despite the positive interim results, Everyman expressed caution regarding the full-year outlook, citing a "challenging" economic environment. The company's increased market share in the first half was supported by the appeal of these major film releases.